Tether has announced a strategic collaboration with TRM Labs and TRON, launching a new initiative called the “T3 Financial Crime Unit” aimed at addressing the misuse of its USDT stablecoin on the TRON blockchain. This partnership was revealed in a statement on September 10, which was shared with CryptoSlate.
The Light on Illicit Activities
In recent times, global regulatory bodies have expressed concerns regarding the unlawful usage of USDT on the TRON network. A report from the United Nations in January indicated a noticeable increase in fraudulent transactions linked to USDT, especially in Southeast Asia. The report designated TRON as a “preferred” platform for these activities, a label both Tether and TRON have contested.
Despite the warnings, industry experts illustrate a complex scenario. The low transaction fees and user-friendly interface of USDT on TRON attract both legitimate users and those with malicious intents.
Justin Sun, founder of TRON, acknowledged the situation, emphasizing that this new alliance aims to showcase the constructive applications of blockchain technology, while also sending a clear message that illegal practices will not be tolerated within the sector.
CEO of Tether, Paolo Ardoino, reinforced the company’s commitment to enhancing security measures and fostering trust in the ecosystem.
According to Tether, approximately 50% of its USDT supply, worth $118 billion, operates on the TRON blockchain, with nearly 39% on Ethereum.
Enhancing Crypto Awareness and Education
In conjunction with its crime unit initiative, Tether is also pushing forward with educational programs through a partnership with Valora, a Celo-based peer-to-peer payments platform, and the Stabila Foundation. This collaboration, announced on September 10, seeks to elevate the understanding and adoption of blockchain technology, particularly focusing on stablecoins.
The partnership will showcase the real-world applications of USDT on Celo, which is a rapidly growing, cost-effective Ethereum Layer 2 solution. The curriculum will cover various topics, including:
- Remittances
- Payments
- Value storage
- Yield earning
- Staking
The Valora Learning Program will primarily target developing markets in Nigeria, South Africa, Brazil, Turkey, and Vietnam. Participants will engage with the Valora application, allowing them to learn about stablecoin functionality while earning rewards through the platform.
Ardoino expressed confidence that this initiative would transform financial engagement in underrepresented communities. He stated:
“This collaboration with Valora on Celo allows individuals to experience the power of stablecoin technology in real-world, everyday situations, empowering them to confidently and effortlessly participate in the global economy.”
